Photo: File
Photo: File

7 things you need to know today

By Dhivana Rajgopaul Time of article published Nov 27, 2020

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CAPE TOWN - Good morning. This is all the latest business news that you need to know today.

1. Mr Price spurred on by Power acquisition

Mr Price rose more than 7 percent on the JSE yesterday after the clothing and home goods retail company announced its first acquisition in nearly 30 years.

2. Stefanutti reduces its loss to R249.3m in six months to end August

Stefanutti Stocks Holdings has reduced its loss to R249.3 million in the six months to end August from R1.04 billion during the corresponding period last year.

3. Quantum Foods earnings are down by 13%

Quantum Foods, the feeds and poultry business providing animal protein to selected local and African markets, said headline earnings fell 13 percent to R218 million in the year to September 30.

4. Kaap Agri skips straight to the final dividend

Kaap Agri declared a final annual dividend of 50 cents a share after skipping the payment of an interim dividend due to the uncertainty created by the Covid-19 outbreak.

5. Rand dips, after motion of no confidence

The rand stepped on to the back foot as traders awaited the PPI release while the external backdrop deteriorated somewhat as rising infections countered vaccine optimism-related risk appetite according to NKC Research.

6. Life Healthcare to reduce its debt after Scanmed sale in Poland

Life Healthcare will reduce its debt after it said yesterday it had sold 100 percent of its shares in Scanmed in Poland to Abris Capital Partners, a central European private equity fund manager, for R806 million.

7. Almost 80% financially impacted by Covid factor

Seventy-nine percent of South Africans continue to be financially impacted by Covid-19 in spite of the further relaxation of lockdown level 1 restrictions, a consumer survey for the week of November 1, conducted by TransUnion, showed.

BUSINESS REPORT ONLINE

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